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Poster: snow_and_rain Date: Oct 11, 2011 11:07am
Forum: GratefulDead Subject: Re: Tipping Point (Non Dead, Tuesday morning musings)

I agree that it's a societal problem -- people were borrowing more than they could afford to pay back. But firms like Goldman Sachs were clearly doing things that were illegal even under our current lenient regulatory structure. Misrepresenting and knowingly selling toxic assets to your clients -- and then turning around a betting against them -- is illegal. Lying to Congress is illegal. GS did both.